Answer: See explanation
Explanation:
The journal entry to correct the errors is given below:
a. Dr Cash $8400
Cr Account receivable $8400
b. Dr Supplies $2500
Cr Office equipment $2500
Dr Supplies $2500
Cr Account Payable $2500
Note that the first entry that's given in (b) above reverses the incorrect entry. On the other hand, the second entry simply records the correct entry.
Answer:
Different communication methods are used in different circumstances because sometimes a certain method will be more effective in terms of cost, time and impact, and sometimes it will be more appropriate.
Explanation:
Answer:
b. Reducing the minimum wage and the time and cost to open a business would shift the long-run aggregate supply curve to the right
Explanation:
Minimum wage is a wage set by the government, to pay for laborers. Wages below this is illegal. Wages are also a major cost to any firm. When they have been reduced, cost of production is likely to fall. Cost of production is a factor affecting supply. When cost of production falls, supply shifts right.
This is explained as that when cost of production falls, businesses can now make higher profits. This acts as a motivation for many other firms to also enter into the market. Therefore, supply is likely to rise in the long-run, shifting the supply curve to the right.
Time and cost to open a business is another factor affecting supply. When the time and cost is high, it discourages new firms because they do not want to undergo the hassle of submitting many legal documents or may not have enough funds to pay for all the costs. However, when the cost and time taken falls, more firms will be willing and able to enter into the market. Thus, the supply curve shifts right in the long run, increasing quantity supplied.
Answer:
Through the newspaper ads.
Explanation:
Personal selling is one of the ways of selling of products by various businesses where the seller and the customers come in direct contact or face to face in order to discuss the features, benefits, and worthiness of any product that the seller is interested in selling This can be done through direct face to face interaction, on telephones, through video conferencing, and also on the internet but not through newspaper ads.
Answer:
Land, Building and equipment
Explanation:
As we know that
Total assets include current assets, fixed assets and intangible assets Current assets involve cash, stock, account receivables, etc. Fixed assets comprise plant & machinery, property, equipment, furniture & fittings, etc.
So according to the given situation, the land, building and the equipment is considered generally as a long term asset
